.

Laurie’s Abbreviation Index:

** ‘div’ – dividend 

** ‘m/m’ – month over month

** ‘y/y’ – year over year

** ‘Inven’ – inventories

** ‘mfg’ – manufacturing ** +/- – plus or minus, positive or negative

** Underlined text – higher volume premarket

** ‘d’ – day

** ‘Y’ – year

**govt – government 

Color Key: Positive – Neutral – Negative

Global Markets: USA, Europe, Japan, China, Hong Kong – neutral set-up

·       Commodities: Gold, Silver, Copper, Palladium, Oil, natgas, AGGS, Bitcoin

·       Yields: 30Y Bond –0.25% Currencies: USA$-0.30%, CAD -0.00%, YEN +0.65%  BTC/USD+2.2% Vix:18.15

·       Events USA Non-farm payrolls 830ET
Stock News PLTR higher with Trump disclosure and upgrade; HOOD higher on 24hr futures TSLA delivery data
Equity USA indices are slightly higher ahead of NFP. QQQ was lower overnight with semi weakness but is reversing and semis are now outperforming software. MAGS were the leaders Wed on the back of the META surge but premarket now led by TSLA ahead of deliveries with GOOGL and META lagging. Trump tweet that MU is a truly great American company reversed the overnight drop and Trump’s disclosure of PLTR ownership are lifting the name. HOOD higher after event, TSLA delivery data anticipation lifting the stock which is +16% since last Fri, watch for the reaction once data is released. *** NFP +57k vs +113k expected Reaction: 10Y yield lower, indices higher, gold miners large move higher. IWM leading index so market is using the highly unreliable jobs number as justification for lower rates and monkeys gravitate to the highest indebted and highest short interest names i.e. IWM. Top sectors: gold miners, semis, space, bitcoin

·        Stock GDX, MU, BE, PLTR, TSLA, META, GOOGL Speculative BE, MSTR
Indices IBIT, ETHE, GDX, SLV, GLD, FEZ, XLF, IGV, MSOS, IWM, /CL, KWEB, UNG, $DXY, TLT

S&P500 PLTR, COIN, HOOD, SMCI, SNDK, MU, MVRL, GOOGL,
Other MSTR, INFQ, CRCL, BMNR, ASX, BE, SOFI, OUST, XPEV, FPS, BABA, AAOI, NVTS

B

Goldminers have been dreadful with the rise in the US$ and higher yields. The NFP miss is causing a drop in yields and a reflexive bounce in goldminers. Barrick bounce and then dropped on the weak ADP so potential  of a repeat but otherwise momentum may be reversing and can consider a long with first target a gap fill and then the 20ema. Caveat that B is in a downtrend and this is a counter trend bounce. Potential risk reversal idea. B > 38 can be a trigger with support 37